As we take a deep breath and consider our business planning options for 2022, the relevance of accurate, readily accessible accounting data has never been more apparent. Without up-to-date, real-time data we cannot make the judgements that may mean the difference between survival and failure this coming year.. What is changing in 2022? Why this […]
As UK regional governments turn the screw to limit the spread of the new COVID Omicron variant, we have set out below how you can access details of the current financial support that is available to UK business owners affected by these changes. Major grant options, the Coronavirus Job Retention Scheme, and the Self-Employed Income […]
An Accounting Gem’s blog will take you through the tax allowances and reliefs that will help you celebrate with your business colleagues, family and friends this Christmas and New Year holiday period and claim any costs as a tax-allowable deduction. Christmas magic and tax write-off Christmas is usually a time for people to get together, […]
Could you find useful employment for a young person in your business, and have the costs met 100% by government sponsorship? What is Kickstart? The scheme was launched September 2020 and aims to find employers who are willing to take on 16 to 24-year-olds, who are claiming Universal Credit, and at risk of long-term unemployment. […]
What you can write off against tax for replacement of domestic items in your rented properties At An Accounting Gem we often get asked by our clients to clarify what can be claimed if domestic items in your rented property are replaced. The following notes are a short summary of GOV.UK published material regarding the […]
Most of us would rather avoid the word “tax” and yet tax planning offers a unique opportunity to reduce the amount of tax that you pay and make a positive contribution to your efforts to outpace the current economic downturn and emerge financially more secure. The rest of this blog does sketch out some of […]
On 27 October 2021, Chancellor Rishi Sunak gave his second Budget speech of the year. As significant tax changes had been announced in the March Budget, this was widely expected to be more about spending than taxation. Many of these spending plans had been announced before the Budget, earning the Chancellor a rebuke from the […]
HMRC have delayed the implementation of MTD for Income Tax Self Assessment by a further year. You will now need to be ready to make your first quarterly uploads to HMRC from April 2024. It may seem that we have plenty of time to achieve readiness, but experience has shown that getting from point A […]
Since April 2020, all UK residential properties disposed of by UK resident taxpayers – that create a taxable gain for Capital Gains Tax (CGT) purposes – will have to be reported to HMRC within 30-days of the disposal. Any CGT payable will have to be paid over to HMRC in the same 30-day window. Generally, […]
This month, we’re excited to shine a spotlight on: James Spencer, Owner of Spartan IT Systems Tell us a little about Spartan and what they do? Spartan IT Systems was started at the very beginning of the pandemic. What began as a need to keep myself working while businesses were no longer hiring IT contractors […]